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CNBC's Liesman: Putting The Numbers In Perspective

Wednesday, 29 Nov 2006 | 11:22 AM ET

U.S. economic growth turns out to have been better in the third quarter than originally expected. But new home sales in October turned out to be a lot worse than expected. On Morning Call--CNBC’s Senior Economics Reporter Steve Liesman put the data in perspective.

On today’s Morning Call, CNBC’s Senior Economics Reporter Steve Liesman put the data in perspective.

According to Liesman--housing doesn't seem like its hit bottom.. so the economy hasn't hit bottom yet. Where does this leave the Fed? Liesman thinks right where it was.

The key here is not how much housing falls-but its ripple effect.